en.Wedoany.com Reported - Adani Ports and Special Economic Zone Ltd (APSEZ) is in negotiations with Mediterranean Shipping Company (MSC) regarding the sale of a partial stake in Vizhinjam Port.
If the deal is reached, MSC could acquire up to a 49% stake in the deepwater transshipment hub at Vizhinjam Port in Thiruvananthapuram. This potential sale aligns with APSEZ's concession agreement with the Kerala state government, which allows the operator to reduce its shareholding to 26% or lower under specific conditions after the first phase of commercial operations.
Vizhinjam Port is about to enter its second year of operations, having already handled over 2 million TEUs of cargo. The port processed 1 million TEUs within its first year of operation. Since commencing operations, it has handled over 950 vessels, including 67 ultra-large container ships. Additionally, it has hosted some of the world's largest container vessels, such as the "MSC Irina" and "MSC Verona."
Shipping volumes have tested the port's capacity. During an earlier period of congestion, approximately 100 vessels were waiting for berths, largely driven by MSC's operations. The 800-meter-long berth in Phase 1 can only accommodate a limited number of large vessels at a time.
Once the transaction is completed, MSC will transition from a major customer to a co-owner, thereby gaining a deeper operational foothold at the port.
APSEZ has established partnerships with global shipping groups, including joint ventures with CMA CGM and Terminal Investment Ltd at Mundra Port and Kamarajar Port. Terminal Investment Ltd is affiliated with MSC.
Adani Ports and Special Economic Zone Ltd is the Indian port developer and operator under the Adani Group, with operations spanning port terminals, logistics infrastructure, and related cargo handling assets across India.
Mediterranean Shipping Company is a privately held shipping group headquartered in Geneva, whose operations include container shipping, logistics, and terminal-related activities through its subsidiaries and affiliated companies.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
